Investing in a triplex and selling our home
My husband wants to sell our home and invest in a triplex and live in one of the units. We can afford to put down at least 10%. How do we finance such a project? Will lenders consider the property as our primary home? Would they consider the potential income from the units as well? by jones331 from Atlanta, Georgia. Apr 26th 2022
John Burke (jburke)
#27 ranked lender in Texas - 321 contributions
Hi Jones331, Yes, you can buy a triplex, live in one unit and call it your primary residence. With 10% down, you'll be limited to FHA or VA (if you're eligible). FHA does allow us to count the rental income to help you qualify but we do have to run a self-sufficiency rental income calculation. | John Burke | Senior Mortgage Banker | Lending in ALL 50 states |Stride Bank | jburke@stridebank.com | (877)228-9069 | NMLS# 787231 |
Ask our community a question.
Get an answer
Related Questions
